Gross domestic product may increase by between 6 percent and 6.5 percent next year, Sarwono said in a statement posted on Bank Indonesia’s Web site late yesterday. The central bank earlier this week raised its estimate for 2010 growth to 5.6 percent from 5.2 percent.
Asian economies from China to Vietnam are picking up speed after policy makers boosted spending and slashed borrowing costs to counter the global recession. Indonesia fared better than its neighbors during last year’s world slump because it relies less on exports, and consumer confidence has been buoyed by the most stable political climate since the 1998 ousting of ex-dictator Suharto. The country’s economy expanded 4.5 percent last year.
“Private consumption is forecast to grow higher in the first quarter,” Bank Indonesia said in a March 5 statement on its Web site. Private consumption accounts for about 68 percent of Southeast Asia’s largest economy.
PT Bank Mandiri, Indonesia’s largest lender by assets, yesterday posted profit of 6.72 trillion rupiah ($731 million) for 2009.
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